Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

Standard Life Wealth client roster hits 4,500 as it seals Newton deal

Standard Life Wealth client roster hits 4,500 as it seals Newton deal

Standard Life Wealth has completed its acquisition of Newton Private Clients, the wealth management division of the fund group.

The deal sees Standard Life Wealth increase its assets to £5.5 billion and chief executive Richard Charnock (pictured) said it provided an 'immediate step up in scale' and reinforced the firm's ambition to be a leading player in the discretionary world.

The combined entity will have a total of 4,500 high net worth and ultra high net worth clients on its books with offices in London, Birmingham, Bristol, Leeds and Edinburgh.       

The acquisition was initially announced to the market in February, when parent company Standard Life said it would take on Newton's private client division, which manages £3.6 billion in assets, though it would not bring over its multi-billion charity business as part of the deal.

Charnock said in a statement: 'This is an important acquisition for Standard Life. It provides an immediate step up in scale for Standard Life Wealth and reinforces our ambition to be a leading player in the discretionary investment management sector.

'We are delighted with the positive reaction to the acquisition from clients, introducers and colleagues, who are excited about the enhanced opportunities the combined business offers.'

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Biotech Growth: we will ride out this storm

Biotech Growth: we will ride out this storm

Geoffrey Hsu of Biotech Growth Trust says the sell-off in biotechnology stocks represents a buying opportunity for long-term investors.

Play Picton: the UK property hotspots for rental income

Picton: the UK property hotspots for rental income

Picton Property Income CEO Michael Morris reveals how he is planning to ride the ‘ripple effect’ as UK economic growth spills out from the capital across the country.

Brewin's Foster talks financial crisis MkII with Allianz's Riddell

Brewin's Foster talks financial crisis MkII with Allianz's Riddell

This week Brewin Dolphin's head of research talks to Mike Riddell, fund manager at Allianz Global Investors, about the forces driving bonds markets in a tumultuous week for markets.

Your Business: Cover Star Club

Profile: PortfolioMetrix is on a mission to kill 'Frankenstein' systems

Profile: PortfolioMetrix is on a mission to kill 'Frankenstein' systems

In a buyers’ market for off-the-peg discretionary management, self-funded start-ups begin at an inherent disadvantage

Wealth Manager on Twitter